An earlier episode in this series (#180) dealt with the lack of value and ROI in going to specific business and trade shows and conferences. In fact, we used as a case study BlogWorld and new Media Expo in New York during 2012.
However, we stand corrected concerning some of the statements we made in that episode. Why? We explored the situation of another entrepreneur who chose to plan attendance to this same conference at a later date and gain tremendous value.
In the case of Dave Jackson — an entrepreneur who is a web designer, Internet consultant and Podcast coach — there was significant value and ROI when he attended the January, 2013, conference of the New Media Expo in Las Vegas, Nevada.
Dave Jackson has multiple podcasts. Among them is his flagship podcast series called The School of Podcasting. Others include podcasts for musicians, web designers, podcasters and consultants — and other religious, physical fitness, monetization, motivational and human interest topics.
In this audio episode, you will hear from Dave Jackson, himself, what the ROI was for him in attending this Industry trade show and conference. He describes the VALUE received in executing a well-made plan and executing it for the benefits received for his business (and this includes NOT gambling at all while in Las Vegas, but concentrating his efforts on networking, interviewing, creating content, creating relationships, as well as energizing and reinforcing relationships, and gaining education on the latest hardware, software, products and services within his niche of New Media and Podcasting.
We can then examine some of the questions that we asked in earlier episode 180 about the ROI and value for an entrepreneur in attending a conference or business show event, and then compare it to the situation with Dave Jackson (the bold items were questions that were given in episode # 180):
Key questions for YOU as an entrepreneur could be:
- Do you know which events relate to your industry, niche, product, service, audience or community?
* Dave Jackson realized the importance of his industry niche (podcasting and new media). Although initially, he did not plan on attending this specific event, he decided that since this conference was only ONCE per year (instead of twice), he had to be there to accomplish his business objectives for 2013.
- Do you have a list of these events for the coming 12 months?
* Dave Jackson has a list of Podcamps in Ohio, as well as national conferences like this one.
- Do you have a set of MEASURABLE CRITERIA for ROI?
* Dave Jackson had to pay for all his expenses. Thus, the ROI had to be planned — both in quantitative and qualitative terms. In speaking with him, his ROI in revenue was met with the clients he developed for services; and his qualitative expectations were exceeded.
- Do you apply a cost-benefit analysis for each one?
* Dave Jackson had a cost-benefit analysis in mind, and he was happy that his costs were contained by using prudent cost-savings in travel. His new clients and their potential revenue were also reviewed for their positive results.
- Do you have an EVENT PLAN for your business that compares and contrasts each event for the best ROI?
* Dave Jackson had done this in late 2012. He knew which events would be of value. He compared and contrasted them in terms of ROI — both qualitatively and quantitatively.
- Do you have a STRATEGY for your planned events? For example, would you be an ATTENDEE, SPEAKER, EXHIBITOR or COMMUNITY CONTRIBUTOR?
* For Dave Jackson, this was the biggest positive action. Since he had been a speaker in the New York 2012 New Media Expo, he decided that 2013 would be a year of going to the event as an ATTENDEE, not as a speaker. In addition, he decided NOT to attend the sessions, but to purchase onsite, at the event, a Virtual Ticket (which allowed him to get a video recording of ALL the sessions). Thus, he planned his schedule and used his time for networking, business development, interviewing and creating content for his shows, etc. And he was satisfied greatly with the results.
- Do you have a PROCESS that you apply for follow-up AFTER attending or participating in each event?
* In our discussion with him, Dave Jackson was creating a task list to follow up with his new clients, with his energized relationships and industry contacts. He was executing his plan by including content that he had obtained at the show (in the form of recordings) in his podcasts and deliveries of video and audio in 2013.
- Do you include a LESSONS-LEARNED item in your follow-up process to ensure that you improve your ROI criteria after each trade show or event?
* In our discussion with him, Dave Jackson had demonstrated that he has been creating a matrix of Lessons Learned in his follow up. He would compare the results of the past events with the actions of the current conference, thus summarizing the ROI for the event. In a couple of interviews with him, he verbally gave the Lessons Learned and plans for improvement in his mind during the last day of the conference.
Thus, with a well-developed action-plan for execution during a niche Industry trade show and conference, an entrepreneur can reach (and exceed) the objectives and expectations for benefit of the business in terms of ROI and VALUE — especially in the area of Business Development and Professional Networking (i.e., creating, energizing and reinforcing relationships).
We wish the best for Dave Jackson and his follow-up from the success of his Business Development and Networking at the New Media Expo 2013.
Note: this audio episode was originally recorded for the benefit of Richard Cleveland of www.nakedapeprod.com (a podcaster and internet broadcaster who could not attend the conference in person).
Copyright (c) 2013, Matrix Solutions Corporation. All rights reserved.
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